Impressive Growth in Cyprus Tourism Revenue: €223.3m in Q1 2024, Surging 11.7% YoY

Revenue from tourism reached an estimated €223.3m in January–March 2024, rising 11.7% compared to €200m in the first quarter of 2023, Cystat said.

Based on the results of its Passengers Survey, in March, revenue from tourism reached €113m, compared to €97.8m in the corresponding month of 2023, recording an increase of 15.5%.

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The average expenditure per person was €558.88 in March 2024 compared to €530.72 in March 2023 (up 5.3%).

Tourists from the United Kingdom, again Cyprus’ largest tourist market with 31.8% of the total in March, spent on average €73.49 per day, while tourists from Poland, the second largest market with 10.4% of total tourists, spent on average €75.86.

Tourists from Germany, the third largest market with 9.8%, spent on average €98.66 per day, while tourists from Greece with 9% of the market, spent on average €43.37 per day.

Finally, tourists from Israel, the fifth place on the market with 8.2%, spent on average €143.21 per day.

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Allbirds Rebrands As NewBird AI After $39 Million Asset Sale

by THEFUTURE.TEAM

April 16, 2026

A Bold Strategic Pivot

Former Allbirds entity sold its footwear brand and related assets for $39 million and rebranded as NewBird AI. The company now positions itself as a GPU-as-a-Service and AI cloud infrastructure provider. Rebranding was announced through the investor relations platform, marking a shift toward AI-focused operations.

Significant Institutional Backing

NewBird AI secured $50 million in funding from an institutional investor through a convertible financing facility. Capital will support infrastructure development and expansion into AI services. Funding reflects continued investor interest in AI compute and infrastructure.

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Learning From The Past

Transition from a consumer brand to an AI infrastructure provider represents a major change in business model. Similar rebranding cases have previously attracted market attention, including Long Island Iced Tea’s shift to Long Blockchain in 2017, which led to a temporary increase in share price. That case later led to delisting, highlighting the risks associated with rapid repositioning. NewBird AI continues to operate under the Nasdaq-listed ticker “BIRD”.

Future Plans And Market Outlook

Shareholder approval is expected at a meeting scheduled for May 18. Planned actions include a dividend distribution in the third quarter. American Exchange Group will manage the Allbirds brand and continue serving customers. NewBird AI plans to allocate capital to GPU acquisitions and to expand its services through partnerships, mergers, and acquisitions.

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